EC proposes tariffs on fertilizers from Russia and Belarus

The European Commission has adopted a proposal to impose tariffs on a number of agricultural products from Russia and Belarus, as well as on certain nitrogen-based fertilizers. “The agricultural products affected by the new tariffs constitute 15% of agricultural imports from Russia in 2023 that had not yet been subject to increased tariffs. Once adopted by the Council, all agricultural imports from Russia would be the subject of EU tariffs. The aim of the proposal is to reduce dependencies on imports from Russia and Belarus. Such imports, particularly of fertilisers, make the EU vulnerable to potential coercive actions by Russia and thus present a risk to EU food security,” the Commission stated. Publicly traded fertilizer companies include Nutrien (NTR), Mosaic (MOS), CF Industries (CF) and Intrepid Potash (IPI).